Reading time: ~2 m
According to a study by investment bank JPMorgan published on Aug. 16, various stablecoin issuers collectively owned $80 billion in short-term U.S. government debt as of May 2022.
Tether, Circle, and other stablecoin companies accounted for 2% of the entire U.S. Treasury bill market, with Treasury bills accounting for more than Berkshire Hathaway’s. Warren BUFFETTA. According to the data, stablecoin issuers also outperformed offshore money market funds (MMFs) and MMFs of the primary market in terms of their share of investments in Treasury bills.
Treasury bills are debt instruments that are commonly used by companies as cash equivalents on corporate balance sheets. Tether and Circle — issuers of the world’s largest asset-backed stablecoins, Tether and USD Coin (USDC), pledged to buy U.S. Treasury bills, while reducing reliance on commercial paper earlier this year.
Image: Financial Times
#Stablecoin #issuers #accumulated #significant #share #Treasury #market